Commercial Land with Highway
For Sale
$3,959,500
851 Charlotte Highway, Fairview, NC 28730
Flexible OU-zoned acreage with utility availability and cleared land along a five-lane commercial corridor.
Property Size20,001 SF
Days on Market51
Property Features for 851 Charlotte Highway
General Information
Standard status
Active
Size
20,001 SF
Property subtype
Unimproved Commercial
Amenities
Cleared, Hilly, Level, Open Lot, Pond(s), Rolling Slope, Sloped, Steep Slope, Creek/Stream, Wooded, Views, Other - See Remarks
Metal
Chain Link
Additional parcels description:, Parcel Number: 9676-59-0140-00000, Assessed Value: $1.1801e+06, Zoning: OU
Gross Income: $22,800, Gross ScheduledIncome: $22,800
Listing ID: CAR4420677, Standard Status: Active, MLS Status: Active, Property Subtype: Unimproved Commercial, 1 day on market, Special Conditions: Estate
Built in 2000, 1 building, Construction Materials: Metal
County/Parish: Buncombe
Elevation: 2500
Slab
Frontage Type: 4 Lane Highway, Road Responsibility: Publicly Maintained Road, Road Surface: Paved
Building Details
Building Size
20,001 SF
Year Built
2000
Listing Agency:
RE/MAX Executive
(828) 670-1500
Listed By:
Dale Merrill · License #63822
(828) 275-4130
Source:
Blackstreaminternational
Added: Sep 3
Changed: Oct 21
Last Checked: Oct 20 at 9:16PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Executive
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Investment Insights
Based on property information with market context.
This 61-acre commercial land tract combines highway-oriented frontage with varied topography and multiple development settings. Approximately 6 acres are cleared near Charlotte Highway for near-term commercial or retail construction, while the remainder extends through rolling and steeper terrain to a natural 3–4-acre plateau with views toward Cedar Cliff and the distant mountains. A 1,600-square-foot metal building, constructed in 2000, is occupied by a VW repair shop and includes approximately 1 acre of fenced yard and storage area.
The property fronts Charlotte Highway (US 74A) for approximately 600 feet and is located in the Reynolds/Fairview corridor southeast of downtown Asheville. City water and MSD sewer are available, and OU zoning supports commercial, residential, and mixed-use development. Existing occupants include a VW repair shop, mulch yard, and equipment storage lot; they may remain in place or receive 60-day notice to vacate at the purchaser’s preference.
The property fronts Charlotte Highway (US 74A) for approximately 600 feet and is located in the Reynolds/Fairview corridor southeast of downtown Asheville. City water and MSD sewer are available, and OU zoning supports commercial, residential, and mixed-use development. Existing occupants include a VW repair shop, mulch yard, and equipment storage lot; they may remain in place or receive 60-day notice to vacate at the purchaser’s preference.
Key Highlights
- 61 contiguous acres along Charlotte Highway (US 74A)
- Approximately 600 feet of frontage on a 5 lane commercial corridor
- Approximately 6 acres of cleared frontage land
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$234,516
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,690,320
$4.7M
Cap Rate 7%
$3,350,229
$3.4M
Cap Rate 9%
$2,605,733
$2.6M
Market Conditions
NOI Build-Up for 20,001 SF
Gross rent
$340.8K $17.04/SF
− Vacancy
−$5.8K −$0.29/SF
EGI
$335.0K $16.75/SF
− OpEx
−$100.5K −$5.03/SF
NOI
$234.5K $11.73/SF
Area
Buncombe County, NC
Vacancy
1.70%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,690,320
Cap Rate 7%
$3,350,229
Cap Rate 9%
$2,605,733
Alternative Uses
Best Use
Retail
$3.35M
$2.93M – $3.91M
NOI $234,516 @ 7.0% cap · market cap 5.92%
Second Best
Industrial
$1.99M
$1.74M – $2.32M
NOI $139,380 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$6.32M
$5.53M – $7.38M
NOI $442,720 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
88
Businesses Nearby
421
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
SafeNest Storage
Shops & Services
421 visits/mo
0.2 miles
Demographics for 28730, NC
9,707
Population
3,927
Households
2.5
Avg Household Size
47
Median Age
45%
College-Educated
94%
High-School Grad
45.3 sq mi
ZIP Area
214
Density / Sq Mi
$91,544
Median Household Income
$47,930
Median Earnings
$1,256
Median Rent
$357,300
Median Home Value
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Commercial land - Flexible OU-zoned acreage with utility availability and cleared land along a five-lane commercial corridor.
Where is this commercial land located?
The property is located at 851 Charlotte Highway Fairview, NC.
What is the asking price?
The asking price for this property is $3,959,500.
What are key features of this property?
This property features: 61 contiguous acres along Charlotte Highway (US 74A); Approximately 600 feet of frontage on a 5 lane commercial corridor; Approximately 6 acres of cleared frontage land
